INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 1AB - Certain State/Territory bodies exempt from income tax  

Subdivision A - Exemption for certain State/Territory bodies  

SECTION 24AO   24AO   FIRST WAY IN WHICH A BODY CAN BE AN STB  


A body is an STB if:


(a) it is a company limited solely by shares; and


(b) all the shares in it are beneficially owned by one or more government entities.

Note:

For the definition of government entity see section 24AT . Note that an excluded STB is not a government entity.


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